Marcus & Millichap Facilitates $12.75M Sale Of Mixed-Use Property In Red Bank, New Jersey

Real estate brokerage firm Marcus & Millichap has facilitated the sale and financing of a mixed-use property in Red Bank, New Jersey for $12.75 million. The property located at 2-10 Broad Street spans a total of 28,110 square feet. It is comprised of ground-floor retail space and two floors of boutique office space. The sale price translates to a price per square foot of $454. The asset is anchored by national retailer Urban Outfitters.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $12,750,000
• Location: 2-10 Broad Street, Red Bank, New Jersey
• Market: Red Bank

The sale was facilitated by Alan Cafiero, Brent Hyldahl, and Seth Goldberg from Marcus & Millichap. They represented the buyer, Gregory Jemal, who is associated with Jemal’s Front and Broad, LLC. The mortgage for the transaction was organized by Joseph Belgiovine from Marcus & Millichap Capital Corp.

Note: The sale of this mixed-use property underscores the strong demand for commercial real estate in Red Bank, New Jersey. The property's attractive features, including its prime location and diverse tenant mix, contribute to its appeal in the market.